Why Trump's Gaudy Aesthetic Isn't Rococo
Sign up to keep up: Subscribe to get the Design Edition newsletter every Sunday.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
German minister to press Hegseth on arms supplies, missile deployment
By Sabine Siebold BERLIN (Reuters) -German Defence Minister Boris Pistorius heads to Washington on Monday to meet U.S. Secretary of Defense Pete Hegseth, to seek clarity on American arms supplies to Ukraine, missile deployment plans and the future of U.S. troop levels in Europe. Pistorius is likely to receive a warm reception as Europe's biggest economy recently emerged as a key player in NATO's largest military build-up since the Cold War, having for decades lagged behind in defence spending. As European officials fret over a possible future attack from Russia and brace for a drawdown of U.S. forces, Germany loosened its constitutional debt brake to meet NATO's new core military spending target of 3.5% of national output by 2029. The move will boost German defence spending to 162 billion euros ($189 billion) in 2029 from 95 billion euros in the draft budget for 2025. At a meeting with Hegseth at the Pentagon, Pistorius will discuss Berlin's offer to pay for American Patriot air defence systems for Ukraine, a proposal made public by Chancellor Friedrich Merz weeks ago after private discussions failed to elicit a response from Washington. On Sunday, U.S. President Donald Trump said he will send Patriot missiles to Ukraine. He did not give a number, but he said the United States would be reimbursed for their cost by the European Union. Germany has already donated three Patriot units to Kyiv, as Ukraine endures some of the heaviest Russian attacks in recent weeks. However, European allies remain uneasy about the new U.S. administration's unpredictable stance on arms supplies. On Tuesday, Trump said he had approved sending defensive weapons to Ukraine and was considering additional sanctions on Moscow, just days after the Pentagon halted shipments of critical arms to Ukraine. Pistorius will also seek clarity on whether Washington remains committed to temporarily deploying long-range missiles to Germany from 2026, as agreed under former President Joe Biden. The deployment would include systems such as Tomahawk cruise missiles with a range of 1,800 kilometres (1,118 miles) and the developmental hypersonic weapon Dark Eagle with a range of around 3,000 km. Russia has criticised the plans as a serious threat to its national security and dismissed NATO concerns that it could attack an alliance member. Another key issue will be an ongoing review of the U.S. force posture worldwide that could lead to troop cuts in Europe where around 80,000 U.S. soldiers serve, including some 40,000 in Germany. European allies are urging Washington to ensure any drawdown is coordinated to prevent capability gaps that might leave NATO members vulnerable to Russian aggression. ($1 = 0.8555 euros)
Yahoo
30 minutes ago
- Yahoo
A year into turnaround, Burberry investors see progress
By Helen Reid LONDON (Reuters) -A year after Josh Schulman became Burberry's CEO with a mandate to turn the British luxury brand around, investors say they're pleased with early signs of recovery even though sales are still falling. Burberry, known for its trademark trench coats and check pattern scarves, is in the early stages of a reboot as Schulman tries to reverse the group's years of underperformance and return sales and profit to growth. Analysts expect the group to report on Friday that comparable retail sales fell 3% in the April-June quarter from a year earlier, according to a consensus provided by Burberry. That would mark an improvement from a 6% fall in the January-March period. Burberry issued a string of profit warnings under previous CEO Jonathan Akeroyd, and Schulman after taking over said the brand had lost its focus on outerwear and recognisable British references, and had strayed too far into a "niche aesthetic". Its shares are up around 63% since Schulman took the helm, outperforming luxury peers, and analysts have grown more upbeat in recent weeks, with HSBC saying Burberry has the opportunity to gain market share from rivals. "We are seeing the improvement in terms of the product range, pricing, marketing, and there are early signs that is leading to a pickup in sales – but it's early days still," said Dan Carter, a member of the investment team at Phoenix Asset Management Partners in London. Burberry's marketing under Schulman has drawn on its association with British heritage, but in a way that is also contemporary, Carter added. Burberry typically makes more of its revenue in the autumn/winter season. However, it has been trying to tap into key events of the British summertime, with its most recent "Burberry Festival" campaign timed to coincide with Glastonbury music festival. The campaign featured hip-hop artist Loyle Carner and music producer Goldie, as well as model Cara Delevingne sitting in a pit of mud in Burberry rain boots, in a nod to Glastonbury's unpredictable weather. "They're a brand that is focusing on outerwear and protection against the weather... so to try and stretch that through the year makes sense," said Carter. As part of its turnaround, Burberry announced in May it would cut a fifth of its global workforce, a radical cost-cutting move that investors have welcomed. LESS EXPENSIVE BAGS, MORE HIGH-END TRENCHES The brand has moved away from high-priced bags and brought in more affordable models like its recently launched Cotswold range, priced at 1,490 pounds to 1,890 pounds ($2,012.99 to $2,553.39), and the 850-pound Horseshoe crossbody bag - driving its average bag price down by 9% since the start of October last year, according to pricing analysis by Luxurynsight. "They're kind of trying to thread the needle of being luxury while shifting the assortment down a little bit," said Brett Sharoni, senior analyst at Pzena Investment Management in New York, which owns shares in Burberry. "We had been engaging with Burberry for over a year before we ended up buying - and one of our big pieces of feedback to them was, you know, you don't really have a right to sell handbags for $3,000," he said. Burberry has, though, brought in some higher-priced outerwear products such as a 115,000 yuan ($16,044.65) corduroy trench coat in China, Luxurynsight found, and has broadened its range of outerwear products by 22% since the start of October last year. Yumi Shin, chief merchandising officer at New York department store Bergdorf Goodman, said she supports the emphasis on the brand's trademark products, like the classic trench coat and winter accessories. "We're continuing to feel optimistic about Burberry's transformation under Josh's leadership," said Shin. "Josh has a merchant's mindset and understands the necessity to balance fashion and function on the shop floor." ($1 = 0.7402 pounds) ($1 = 7.1675 Chinese yuan renminbi) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
31 minutes ago
- Yahoo
Bank issues warning over building projects scams after seeing jump in cases
A major bank is seeing a jump in criminals using building works as a ruse to steal customers' money. Criminals may ask for hefty deposits for work around the home or garden to be carried out before disappearing. Or they may make false claims to have qualifications and leave work behind that is severely shoddy or even dangerous. Santander UK highlighted the issue in its quarterly 'scamtracker', which tracks trends in authorised push payment (APP) scams, where people are tricked into transferring money directly to a fraudster. Purchase scams accounted for more than half (57%) of claims received between April and June, Santander said. Within this, there was a 22% increase in the volume of scams involving building works in the second quarter of this year compared with the previous quarter. The bank said this is the fastest rising tactic it is seeing being used by scammers and the most common driver of purchase scams for customers aged 35-plus. A significant jump was seen among customers aged 80-plus, with building works making up more than half (58%) of all purchase scam claims received from this age group, up from just over a third (36%) in the first quarter of 2025. The bank's data also indicated that criminals are homing in on works linked to roofing and gardening or landscaping. Looking beyond just building scams, the scamtracker found that £15.7 million was stolen overall from customers between April and June 2025, which was a 15% decrease compared with the previous three-month period. Chris Ainsley, head of fraud risk management at Santander UK said: 'While the total amount stolen by scammers has declined over the last quarter, don't let this lull you into a false sense of security. 'With longer days and warmer weather, it's a popular time for us all to think about jobs around our homes and gardens, and criminals are capitalising on this, parting customers with more than £700,000 between April and June alone. 'Don't let scammers cast a shadow over your summer and; stay alert to anything that sounds too good to be true.' The bank suggested that, to help guard against scammers, people seek recommendations from friends and family, source several quotes before agreeing to work and be wary of anyone cold calling. It said people should not feel under pressure to agree a deal on the spot. Alongside building scams, Santander also highlighted a growing trend of criminals sending scam text messages purporting to be from organisations such as utility companies, government bodies, or linked to winter fuel payments or penalty charge notices. Fake messages may link to a website that asks customers for their card details and allows criminals to register their card to a new digital wallet. Data from the bank shows that scam claims involving in-app digital wallets have increased by more than 70% in the second quarter of this year, compared with the first quarter, with more than £1.8 million stolen between April and June 2025.
